3 weeks ago
Sensex, Nifty Fall as Crude Nears $90, US-Iran Hopes Fade
Stock markets are places where people buy and sell small pieces of companies, called shares.
When many people sell their shares, prices go down.
In India, two important markets are called Sensex and Nifty, and recently their prices fell.
One big reason is that oil got more expensive, with prices moving close to $90 for one barrel.
Oil is used to make fuel for cars, planes and factories, so expensive oil makes life costlier for everyone.
Another reason is that many people were hoping the US and Iran would make a deal to keep oil prices down, but that hope faded.
Worried investors started selling shares, especially in big banks and other companies.
Some other companies, like those making medicines and computer software, actually did a little better.
Experts say the market is moving sideways and suggest investors be careful while watching key price levels for new signals.
Sensex and Nifty fell as Brent crude moved towards the $90 per barrel mark and hopes of an early US-Iran agreement faded.
Major Sensex laggards included Bharti Airtel, Axis Bank, HDFC Bank, UltraTech Cement, L&T, Reliance Industries, Bajaj Finance, M&M, ITC and State Bank of India.
Analysts cited renewed concerns over imported inflation, the rupee and corporate margins, along with weak global cues and profit booking after a recent rally.
Nifty Midcap100 ended 0.02 per cent lower while Nifty Smallcap100 gained 0.22 per cent, with pharma and select IT names emerging as relative gainers.
Technically, the Sensex is below its 200-day EMA with support at 78,000–77,800 and resistance at 78,500–78,700, while Nifty faces support at 24,390–24,350 and resistance at 24,600–24,630.
- Who
- Investors and analysts at Religare Broking, Geojit Investments, Choice Equity Broking and SBI Securities following Indian stock markets.
- What
- The Sensex and Nifty fell as crude oil prices moved towards $90 per barrel and hopes of an early US-Iran agreement faded.
- Where
- Indian stock markets (BSE Sensex and NSE Nifty), against a backdrop of global crude markets and the Strait of Hormuz.
- When
- The most recent trading session (specific date not mentioned in the articles).
- Why
- Rising crude prices revived concerns over imported inflation, the rupee and corporate margins, while weak global cues and profit booking after a recent rally weighed on sentiment.
Key facts
- Brent crude price
- Moving towards $90 per barrel
- Sensex support level
- 78,000–77,800
- Sensex resistance level
- 78,500–78,700
- Nifty support (200-day EMA)
- 24,390–24,350
- Nifty resistance
- 24,600–24,630
- Nifty Midcap100
- Closed 0.02% lower
- Nifty Smallcap100
- Gained 0.22%
- Relative gainers
- Pharma and select IT stocks
Quotes
Ajit Mishra
SVP Research at Religare Broking
“Concerns over the disruptions in the Strait of Hormuz and the US‑Iran negotiations kept sentiment guarded, particularly ahead of key inflation prints in India and the US. The resulting risk‑off sentiment weighed on sectors most vulnerable to higher energy costs, while pharma and select IT names emerged as relative gainers.”
businesstoday.in
“Investor sentiment remained subdued amid a renewed rise in crude oil prices, with Brent crude moving towards the $90 per barrel mark as hopes of an early US‑Iran agreement faded.”
businesstoday.in











